The Coronavirus outbreak has affected the whole world, not just mentally and physically but financially as well. The economy of several countries has fallen down because of the pandemic. However, amidst all the crises, Reliance Industry has made one of the biggest foreign investments in India by joining hands with Facebook.
On Wednesday, Mukesh Ambani led Reliance Industries announced that it has entered into a binding agreement with US tech giant Facebook, which has committed to purchase of a 9.99% equity stake in subsidiary Jio Platforms Ltd for ₹43,574 crores.
Mukesh Ambani also released a video message, announcing the deal. He said:
“All of us at Reliance and Jio are delighted to welcome Facebook Inc. as our long-term and esteemed partner. At the core of our partnership is the commitment that Facebook founder Mark Zuckerberg and I share for the all-round digital transformation of India and for serving all Indians,”
Chairman of Mahindra Group, Anand Mahindra, took to his social media and showered praises on Mukesh Ambani for his recent deal with Facebook. Anand Mahindra shared his opinion on the same and expressed how it is a brilliant idea to strengthen the Indian economy post the Coronavirus led crisis. He also congratulated Mukesh Ambani on his latest business deal with Facebook. He wrote:
“Jio’s deal with Facebook is good not just for the two of them. Coming as it does during the virus-crisis, it is a strong signal of India’s economic importance post the crisis. It strengthens hypotheses that the world will pivot to India as a new growth epicentre. Bravo Mukesh”
Here, check out the Tweet:
Jio’s deal with Facebook is good not just for the two of them. Coming as it does during the virus-crisis, it is a strong signal of India’s economic importance post the crisis. It strengthens hypotheses that the world will pivot to India as a new growth epicentre. Bravo Mukesh! https://t.co/5rIi6WOjWf
— anand mahindra (@anandmahindra) April 22, 2020
Earlier, founder of Facebook, Mark Zuckerberg also released a statement regarding the deal. In his statement, he expressed how India is currently in the middle of a major digital transformation and also poured in praises for Mukesh Ambani’s jio. He said:
“Facebook is teaming up with Jio Platforms – we’re making a financial investment, and more than that, we’re committing to work together on some major projects that will open up commerce opportunities for people across India,”
“India is home to the largest communities on Facebook and WhatsApp, and a lot of talented entrepreneurs. The country is in the middle of a major digital transformation and organisations like Jio have played a big part in getting hundreds of millions of Indians, small businesses online,”